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Although most firms strive to receive positive customer references, the elements within each reference can drastically change their impact on firm value.
Although growth can come from securing new contracts and partnerships, reinforcing existing customer relationships is imperative.
In a recent study, B2B customers expressed strong preferences in self-service and collaboration with sellers.
B2B firms spend significant resources in direct marketing to manage their customer relationships. Firms should understand how customers evaluate these organizational marketing communications, which ultimately affect their buying behaviors. Based on four years of customer relationship management data of a Fortune 500 B2B service firm, Kim and Kumar (2018) built a model that aids B2B firms to strategically allocate marketing resources across economic and relational value messaging.
Relationship marketing (RM), in both business practice and academic research, has received ever increasing attention. This chapter provides a framework for understanding relationship marketing. It provides a review of the mechanisms that underlie the relationship process. Next, it highlights the importance of analyzing the multiple dyadic ties between firms at an aggregate level to appreciate the complementary nature of various types of relationships and their impact on performance. Furthermore, the chapter offers insights into the various drivers of inter-firm relationships and connect these relationships to previously measured performance-related outcomes. Following, the moderators that leverage the effectiveness of relationships are discussed. As a conclusion directions for additional research are suggested.
Customer relationship management (CRM) has its origins in business markets. This chapter covers the evolution of the strategic CRM literature from customer loyalty to the current state of the art for customer-centric organizations and interaction orientation. In this chapter, CRM is defined as the practice of analyzing and employing marketing databases and leveraging communication technologies to determine corporate practices and methods that maximize the lifetime value of each individual customer to the firm. Next, parallels are drawn between B2B and CRM research. The chapter also discusses the implications of CRM findings for business markets and recognize the challenges in applying CRM to business markets. Overall, the objective in this chapter is to spur interest among CRM researchers to recognize the unique aspects of business markets in their strategic frameworks and empirical models.
Today, more than ever, we must adapt, be agile, and develop a new perspective that is populated with new tools and deeper insights. Organizations looking at customer and employee engagement must rethink value creation based on their experiences and the impressions they make. In this talk, we’ll look at the evolution of tools and perspectives that move from V 1.0 to V 2.0 of your customer and employee experience.
Global market dynamics and trends have changed the B2B success playbook forever. Commoditization, pricing pressure, channel complexity, customer demands for knowledge, and more have all combined the way we think about how we engage and deliver value to customers. B2B customers, facing the same pressures, are looking for new and better ways to partner with their suppliers, thus creating the need for B2B marketers to take a more strategic approach to the experience they deliver. In this session, we examine the case for rethinking your approach to experience management in order to deliver mutual value.
As B2B industries have become increasingly commoditized, B2B companies have recognized the need for establishing a different type of relationship with their customers. Simply selling and delivering on a good set of products is no longer enough. B2B companies need to become partners with their customers, helping those customers address some of their most pressing business challenges. This had led to the proliferation of value-added services and solutions across B2B industries. It has also forced B2B companies to rethink how they manage their accounts to be customer-centric. This session will explore what it takes for B2B organizations to optimize their customer relationships to create a customer-centric culture and how focusing on your entire ecosystem can help unlock new ideas and growth opportunities for your organization and energize your culture.
B2B companies are struggling to grow organically. The question then becomes: How can companies grow using their current customer bases? Through 80+ years of experience and over 100 million customer interviews, Gallup has developed a unique perspective on the matter. The short answer is that B2B companies can improve by optimizing their customer relationships. During this webinar, Ed O’Boyle, Gallup’s Global Workplace and Marketing Practice Leader discusses how focusing on your entire ecosystem can help unlock new ideas and growth opportunities for your organization.
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